As filed with the Securities and Exchange Commission on November 6, 2002
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported):
October 16, 2002
Commission File Exact name of registrant as specified in its charter, state I.R.S. Employer
Number of incorporation, address of principal executive offices, Identification
and telephone number Number
1-15929 Progress Energy, Inc. 56-2155481
410 S. Wilmington Street
Raleigh, North Carolina 27601-1748
Telephone: (919) 546-6111
State of Incorporation: North Carolina
The address of the registrant has not changed since the last report.
ITEM 5. OTHER EVENTS
On October 16, 2002, Progress Energy, Inc. issued a press release
announcing an agreement to sell North Carolina Natural Gas, its natural gas
distribution subsidiary, to Piedmont Natural Gas Company, Inc. for $425 million
in cash. The sale is expected to close by mid-2003, and net proceeds from the
sale are expected to be used to pay down debt. Portions of such press release,
as revised are filed herewith as Exhibit 99.1 and incorporated herein by
reference.
On October 18, 2002, Progress Energy, Inc. issued a press release
announcing its 2002 third quarter earnings. Portions of such press release, as
revised, are filed herewith as Exhibit 99.2 and incorporated herein by
reference. Progress Energy, Inc. has historically reclassified as long-term debt
portions of its outstanding commercial paper that were supported by long-term
credit lines. Effective with the quarter ended September 30, 2002, Progress
Energy, Inc. will no longer reclassify any of its commercial paper as long-term
debt. The revised press release reflects this new presentation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PROGRESS ENERGY, INC.
Registrant
By: /s/ Peter M. Scott III
---------------------------------
Peter M. Scott III
Executive Vice President and
Chief Financial Officer
Date: November 6, 2002
EXHIBIT INDEX
99.1 Portions of the press release of Progress Energy, Inc. dated October 16,
2002 announcing an agreement to sell North Carolina Natural Gas, its
natural gas distribution subsidiary, to Piedmont Natural Gas Company,
Inc. for $425 million in cash.
99.2 Portions of the press release, as revised, of Progress Energy, Inc.
dated October 18, 2002 announcing its 2002 third quarter earnings.